BAKU, Azerbaijan, Nov. 11
By Fakhri Vakilov-Trend:
Uzbekistan’s O'zlitineftgaz JSC hydrocarbon deposits development institute and the Schlumberger Oilfield Eastern Limited (part of Schlumberger) oilfield services company have signed a confidentiality agreement and memorandum of understanding, Trend reports citing Uzbekistan’s Uzbekneftegaz oil and gas company.
The signed documents aim at technological cooperation in the field of exploration, development and optimization of production at new and existing fields in Uzbekistan, as well as at the coordination of projects in accordance with applicable law.
Under the agreement, the parties can, by mutual agreement, attract production capacities and technical means, labor and financial resources, their own developments, technologies and know-how when implementing activities of mutually beneficial projects.
In addition, based on the results of the negotiations, the companies agreed on the development of scientific and technological cooperation in field geology and geophysics, the development of hydrocarbon deposits, the processing and transport of oil, gas condensate and gas, underground gas storage, technological cooperation in the provision of services for oil and gas companies in Uzbekistan’s territory.
In June this year, it became known that Uzbekistan intends to transfer over 50 fields with declining oil production for development to foreign companies on the basis of risk-service contracts.
O'zlitineftgaz Joint-Stock Company is Uzbekistan’s leading industry research and design institute, providing comprehensive scientific and design support for the development of hydrocarbon deposits and the construction of oil and gas facilities in Uzbekistan.
Schlumberger Oilfield Eastern Limited, was founded in 1956. Country of incorporation is Kuwait.
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